According to Rapoport, the agreement should be signed on Friday, as there are still a few details that need to be hammered out.

Rapoport reported yesterday that the two sides had made significant progress towards a long-term contract extension and an agreement could be in place before Sunday’s game, so it looks like they were able to make some serious progress in the last 24 hours.

For the sake of comparison, Chargers QB Philip Rivers signed four-year contract extension worth a reported $83.25 million and an NFL-high $65 million guaranteed while Steelers QB Ben Roethlisberger got a five-year, $99 million contract with $64 million guaranteed.

Assuming these numbers are accurate, Manning would make an annual salary of $21 million per in terms of new money. Rivers will make $20.8 million per year and Roethlisberger gets $19.8 million annually.

Manning, 34, had one year remaining on his seven-year, $106.9 million contract that included $35 million guaranteed. His base salary for the 2015 season sits at $17 million to go along with a staggering cap figure of $19.75 million.

In 2014, Manning threw for 4,410 yards while completing 63.1 percent of his passes to go along with 30 touchdowns and 14 interceptions. Pro Football Focus has him rated as the No. 18 quarterback out of 39 qualifying players.